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Old 15-06-2022, 02:16 PM   #1962
b0son
FF.Com.Au Hardcore
 
Join Date: Feb 2005
Posts: 4,992
Default Re: Australia housing bubble

Quote:
Originally Posted by Yellow_Festiva View Post
I'm talking from experience here. At 14 I started work and got every minute of overtime I could get.
You did so at a time when doing that made a significant difference. A 14yo today will never achieve what you did, because house prices as an income multiple are overwhelmingly higher.

Quote:
At 18 I bought my first house and between then and 35 I invested heavily in residential property and commercial property.
You did so at a time when the stars aligned.... falling interest rates, CGT changes which spurred investment like never before, lax lending allowing you to borrow with only equity.

Anyone trying to repeat what early-2000s investors did would have no real prospect of repeating the investment windfall of the last 2 decades. Those conditions no longer exist.

Congrats on your life and investments. But honestly, its a bit like someone saying 'you can win lotto too, you just have to start buying tickets'. Not disputing you made sacrifices to get where you are, but to do what you did TODAY requires more sacrifice than is mathematically possible.
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